Salesforce, Inc. (NYSE:CRM) Shares Purchased by Gallagher Fiduciary Advisors LLC

Gallagher Fiduciary Advisors LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 39.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,573 shares of the CRM provider’s stock after purchasing an additional 444 shares during the quarter. Gallagher Fiduciary Advisors LLC’s holdings in Salesforce were worth $526,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CRM. Foundations Investment Advisors LLC raised its stake in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Athena Investment Management acquired a new stake in Salesforce in the 4th quarter valued at about $236,000. Highland Capital Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at about $4,321,000. Nordea Investment Management AB increased its stake in shares of Salesforce by 11.9% during the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock worth $766,566,000 after buying an additional 243,008 shares during the period. Finally, CWA Asset Management Group LLC raised its holdings in Salesforce by 14.1% in the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock valued at $5,252,000 after acquiring an additional 1,936 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 2.2 %

Shares of Salesforce stock opened at $275.21 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day moving average price of $269.34 and a 200 day moving average price of $307.58. The company has a market capitalization of $264.58 billion, a P/E ratio of 45.26, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio is currently 26.10%.

Insider Activity at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. The trade was a 16.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Millham sold 979 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $248,333.14. Following the transaction, the chief executive officer now directly owns 6,487 shares in the company, valued at approximately $1,645,492.42. This represents a 13.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,051 shares of company stock valued at $15,027,714 over the last quarter. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. DA Davidson reissued an “underperform” rating and issued a $200.00 price objective on shares of Salesforce in a research report on Monday, April 21st. Wells Fargo & Company cut their price target on Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Cantor Fitzgerald assumed coverage on Salesforce in a research report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 price objective for the company. Stifel Nicolaus cut their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley lowered their price target on Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.56.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.